Media

A capital recycling partnership with AustralianSuper or another pension fund where Origin built projects and then sold stakes after completion could allow 15 GW worth of projects over the next decade if combined with a dividend reinvestment plan underwritten by a big fund, according to Tim Buckley, a director at think tank Climate Energy Finance. Read more

Clean energy advocate Tim Buckley warned the performance test also encouraged investments in fossil fuels as the current list of market indices favoured past market performance, which has been “heavily skewed in the past year or two to fossil fuel commodity windfall profits”. “Reforming the benchmark could enable super funds, including AustralianSuper, to move from decarbonisation investment blockers into global leaders, like Canada’s Brookfield and Singapore’s Temasek and GIC,” he wrote in the Financial Review this week. Read more

China Energy Policy Analyst Xuyang Dong spoke with Michelle Chen from SBS Madarin about CEF’s recent report – Decarbonising China & the World: Chinese Energy SOEs Supercharge Renewable Investment in Response to the 14th Five Year Plan. Xuyang told SBS that after tracking the investment trends of China’s five largest energy-focused state-owned enterprises, we found that these enterprises’ huge investments in new energy sources have significantly accelerated China’s decarbonisation. The report states that China’s demand for Australian coal will be significantly reduced and calls on the government to create a national strategic investment plan to secure the future of Australia’s energy exports. Read more

Tim Buckley comments for Energy Mix magazine: “China is well on the way to delivering its previous pledge of 1,200 GW of renewables by 2030 up to six years early, so for China to treble its cumulative efforts by 2030 is entirely feasible, given the phenomenal momentum that is already well under way,” said Tim Buckley, director of the Climate Energy Finance think tank. Read more

A better focus for the former prime minister than fending off Brookfield’s ~$30bn of decarbonisation capital that comes with its bid for gentailer Origin would be using his influence to press for reform of the short-term performance test benchmarks that penalise the superannuation industry for investments in future facing, low carbon industries. Read more

The renewable energy pledge was welcomed by climate campaigners and analysts. Tim Buckley, director of the independent think tank Clean Energy Finance, said it was excellent to see Australia backing the commitment. He said falling costs had made the transition to renewables “an entirely economically sensible and viable commitment”. Read more

More than a hundred countries have joined in a commitment to triple renewable energy capacity by the end of the decade. Climate Energy Finance director Tim Buckley says it is a ‘tiny shuffle’ in the right direction. Read more

Climate Energy Finance said the commitment at COP28 by over 100 countries to triple renewables by 2030 – particularly Australia, US, EU, Canada and Japan – was “excellent”. “Two years ago this would have been seen as next to impossible,” director Tim Buckley said in a statement. “But with China having transformed the world’s (manufacturing) capability to deliver on decarbonisation, this goal will collectively bend the climate trajectory towards what the science clearly dictates.” Read more

China’s surging investment in clean power is challenging a century of fossil fuel hegemony. China is rapidly leading the global clean energy transition, challenging fossil fuel dominance. Recent report by Climate Energy Finance reveals that China’s top State Owned Enterprises (SOEs) are aligning with the government’s ambitious energy targets, aiming for peak CO2 emissions before 2030 and carbon neutrality by 2060. As China accelerates decarbonization, the world has been offered a transformative moment to reach science-based climate targets on time. Read more

Wholesale prices of electricity are down about 50 per cent in the 2023 calendar year, relative to 2022, because the “hyperinflation of gas and coal commodity prices internationally over 2022 has now in 2023 progressively come off [more than] 70 per cent from their peak”, according to Climate Energy Finance director Tim Buckley. The government is being transparent about this, in sharp contrast to Angus Taylor, who, as energy minister in the Morrison government, sat on the relevant report predicting significant price increases in the run-up to the last election. Read more

Our Chinese energy SOEs report by Xuyang Dong mentioned in Australia Financial News – An Australia-based Chinese-language news outlet. Read more

In 2020 China set a target of deploying 1200 gigawatts of wind and solar by 2030. (For comparison’s sake, the total capacity of Australia’s grid is 71 gigawatts.) It is now set to reach that target in 2024, six years early. Its annual deployment has doubled this year after leaping by 50 per cent last year. It is installing the equivalent of Australia’s east coast grid in renewables alone, every three months, says the CEF’s director, Tim Buckley. Read more